Public Storage (PSA - Free Report) recently unveiled a new facility in Jersey City, NJ. Specifically, the company transformed a 100-year old building into one of the largest modern self-storage facilities with climate controlled units. The move came as part of the company’s effort to expand in the region.
This facility at the 133 2nd Street, Jersey City, currently has 290 available spaces in a seven-story, block-long building. Moreover, around 4,000 self-storage spaces will come up in this location later this year, thereby transforming it to the “largest Public Storage with the most spaces under one roof nationwide”, per the company.
Notably, expansion in the Jersey City is a strategic fit for Public Storage. This is because over the last five years, the population of Jersey City has grown by 7%, per the U.S. Census. It is also within a short train ride from Manhattan. The community is growing and there is an added demand for self-storage facilities from this expanding population. Also, with a range of prices, the small- to extra-large facilities can meet both personal and business needs.
Public Storage is a recognized and established name in the self-storage industry in the U.S. Its strong presence in major cities serves as a key growth driver. Acquisition and expansion initiatives are expected to propagate growth.
Further, right before its fourth-quarter 2016 earnings, scheduled to release on Feb 22, there is another reason to be positive on the stock. This is because, the stock has a Zacks Rank #3 (Hold) and a positive Earnings ESP of 1.14%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Our proprietary methodology, Earnings ESP, shows the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate. Research shows that for stocks having a combination of a favorable Zacks Rank – Zacks Rank #1 (Strong Buy) or 2 (Buy) or 3 – and a positive Earnings ESP, chances of a positive earnings surprise are high. An earnings beat serves as a catalyst, raises investors’ confidence in stock, results in rapid price appreciation and ensures more gains from one’s investments.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Further, shares of Public Storage outperformed the Zacks categorized REIT and Equity Trust – Other industry over the past one month. Over this time frame, Public Storage shares logged in a return of 2.0% against 0.7% ascend of the industry.
Key Picks
Investors interested in the REIT industry may consider stocks like The GEO Group, Inc. (GEO - Free Report) , Hospitality Properties Trust and Terreno Realty Corporation (TRNO - Free Report) . Each of these stocks carries a Zacks Rank #2 (Buy).
The GEO Group’s 2017 estimates climbed 2.0% to $2.99 per share, over the past 30 days.
Hospitality Properties Trust, currently, has a long-term growth rate of 5.0%.
Moreover, Terreno Realty has a long-term growth rate of 7.3%.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Public Storage (PSA - Free Report) recently unveiled a new facility in Jersey City, NJ. Specifically, the company transformed a 100-year old building into one of the largest modern self-storage facilities with climate controlled units. The move came as part of the company’s effort to expand in the region.
This facility at the 133 2nd Street, Jersey City, currently has 290 available spaces in a seven-story, block-long building. Moreover, around 4,000 self-storage spaces will come up in this location later this year, thereby transforming it to the “largest Public Storage with the most spaces under one roof nationwide”, per the company.
Notably, expansion in the Jersey City is a strategic fit for Public Storage. This is because over the last five years, the population of Jersey City has grown by 7%, per the U.S. Census. It is also within a short train ride from Manhattan. The community is growing and there is an added demand for self-storage facilities from this expanding population. Also, with a range of prices, the small- to extra-large facilities can meet both personal and business needs.
Public Storage is a recognized and established name in the self-storage industry in the U.S. Its strong presence in major cities serves as a key growth driver. Acquisition and expansion initiatives are expected to propagate growth.
Further, right before its fourth-quarter 2016 earnings, scheduled to release on Feb 22, there is another reason to be positive on the stock. This is because, the stock has a Zacks Rank #3 (Hold) and a positive Earnings ESP of 1.14%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Our proprietary methodology, Earnings ESP, shows the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate. Research shows that for stocks having a combination of a favorable Zacks Rank – Zacks Rank #1 (Strong Buy) or 2 (Buy) or 3 – and a positive Earnings ESP, chances of a positive earnings surprise are high. An earnings beat serves as a catalyst, raises investors’ confidence in stock, results in rapid price appreciation and ensures more gains from one’s investments.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Further, shares of Public Storage outperformed the Zacks categorized REIT and Equity Trust – Other industry over the past one month. Over this time frame, Public Storage shares logged in a return of 2.0% against 0.7% ascend of the industry.
Key Picks
Investors interested in the REIT industry may consider stocks like The GEO Group, Inc. (GEO - Free Report) , Hospitality Properties Trust and Terreno Realty Corporation (TRNO - Free Report) . Each of these stocks carries a Zacks Rank #2 (Buy).
The GEO Group’s 2017 estimates climbed 2.0% to $2.99 per share, over the past 30 days.
Hospitality Properties Trust, currently, has a long-term growth rate of 5.0%.
Moreover, Terreno Realty has a long-term growth rate of 7.3%.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
Just Released – Driverless Cars: Your Roadmap to Mega-Profits Today
In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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